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Does Family Involvement in Management Reduce the Risk of Business Failure? The Moderating Role of Entrepreneurial Orientation

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dc.affiliation.areaUC3M. Área de Ingeniería de Organizaciónes
dc.affiliation.dptoUC3M. Departamento de Ingeniería Mecánicaes
dc.affiliation.grupoinvUC3M. Grupo de Investigación: Emprendimiento y Estrategiaes
dc.contributor.authorRevilla Torrejón, Antonio Javier
dc.contributor.authorPérez-Luño, Ana
dc.contributor.authorNieto Sánchez, María Jesús
dc.date.accessioned2018-11-23T09:17:34Z
dc.date.available2018-11-23T09:17:34Z
dc.date.issued2016-10-03
dc.description.abstractThis study explores the question of whether - and under which circumstances - family involvement helps avoid business failure. We hypothesize that it is family involvement in management, rather than ownership, which reduces the risk of failure during economic downturns; however, this effect is negatively affected by the firm's entrepreneurial orientation (EO). We argue that EO hinders reaching consensuses on and commitment to family-centered goals, which are focused on long-term survival. We analyze 369 manufacturing firms in Spain from 2007 to 2013, and find that family involvement in management reduces the risk of business failure, but this effect decreases as EO increases.en
dc.description.sponsorshipThe author(s) disclosed receipt of the following financial support for the research, authorship and/or publication of this article: This study has been partially supported by financial aid from the Spanish Ministry of Economy and Competitiveness (Projects ECO2012-36160, ECO2014-58799-R and ECO2015-67296-R) and from the Project S2015/HUM-3417 (cofinanced by the Communtiy of Madrid and European Social Fund).en
dc.format.extent15
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/xml
dc.identifier.bibliographicCitationRevilla, A.J., Pérez-Luño, A. and Nieto, M.J. (2016). Does family involvement in management reduce the risk of business failure? The moderating role of entrepreneurial orientation. Family Business Review, 29 (4), pp. 365-379en
dc.identifier.doihttps://doi.org/10.1177/0894486516671075
dc.identifier.issn0894-4865
dc.identifier.publicationfirstpage365
dc.identifier.publicationissue29
dc.identifier.publicationlastpage379
dc.identifier.publicationtitleFamily Business Reviewen
dc.identifier.publicationvolume4
dc.identifier.urihttps://hdl.handle.net/10016/27713
dc.identifier.uxxiAR/0000022062
dc.language.isoeng
dc.publisherSAGEes
dc.relation.projectIDGobierno de España. ECO2012-36160
dc.relation.projectIDGobierno de España. ECO2014-58799-R
dc.relation.projectIDGobierno de España. ECO2015-67296-R
dc.relation.projectIDComunidad de Madrid. S2015/HUM-3417
dc.rights© The Author(s) 2016
dc.rights.accessRightsopen access
dc.subject.ecienciaIngeniería Mecánicaes
dc.subject.otherFamily businessen
dc.subject.otherFamily involvement in managementen
dc.subject.otherEntrepreneurial orientationen
dc.subject.otherBusiness failureen
dc.subject.otherSurvival analysisen
dc.titleDoes Family Involvement in Management Reduce the Risk of Business Failure? The Moderating Role of Entrepreneurial Orientationen
dc.typeresearch article*
dc.type.hasVersionAM*
dspace.entity.typePublication
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